Obama: Health Law Isn't Reason They're Losing Plans

PRESIDENT OBAMA: One of the things I understood when we decided to reform the -- the health insurance market, part of the reason why it hasn't been done before and it's very difficult to do, is that anything that's going on that's tough in -- in the health care market, if you initiated a reform, can be attributed to your law. And -- and so what we want to do is to be able to say to these folks, you know what, the Affordable Care Act is not going to be the reason why insurers have to cancel your plan. Now, what folks may find is the insurance companies may still come back and say, we want to charge you 20 percent more than we did last year, or we're not going to cover prescription drugs now. But that will -- that's in the nature of the market that existed earlier.

PRESIDENT OBAMA: One of the things I understood when we decided to reform the -- the health insurance market, part of the reason why it hasn't been done before and it's very difficult to do, is that anything that's going on that's tough in -- in the health care market, if you initiated a reform, can be attributed to your law. And -- and so what we want to do is to be able to say to these folks, you know what, the Affordable Care Act is not going to be the reason why insurers have to cancel your plan. Now, what folks may find is the insurance companies may still come back and say, we want to charge you 20 percent more than we did last year, or we're not going to cover prescription drugs now. But that will -- that's in the nature of the market that existed earlier.

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